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Amsons Group bids US$180m for Bamburi Cement 11 July 2024
Tanzania/Kenya: Tanzania-based Amsons Group has made a significant US$180m bid to acquire the entire stake of Kenya's Bamburi Cement. The group said on 11 July 2024 that it has made a binding offer with Bamburi Cement, according to The East African newspaper. The offer includes a premium of 44.4% over Bamburi's last closing share price.
Managing Director of Amsons Group, Edha Nahdi said "We have great plans to deepen our investment in Kenya and in Bamburi. Our offer to acquire shares in Bamburi is part of our corporate market expansion plan and will mark the formal entry of Amsons Group into the Kenyan market, where we plan to make investments in other industries in the coming months."
Cementos Moctezuma reports revenue increase 11 July 2024
Mexico: Cementos Moctezuma recorded a 20.8% increase in revenues to US$1.1bn in 2023, according to its 2023 Integrated Annual Report. During the same period, the company invested more than US$37.2m in active projects, producing more than 7Mt of cement. The company also reported an earnings before interest, depreciation and amortisation (EBITDA) of US$500m.
CEO José María Barroso said "2023 represented the opportunity to achieve continuous improvement in administrative, technical and commercial aspects, as well as through strategic alliances; all focused on cost reduction and sustainable efficiency."
South Korea: South Korean cement manufacturers recently convened at an event hosted by the Korea Cement Association and the Korea Industry Alliance Forum to discuss how to achieve carbon neutrality. The industry currently faces financial challenges in upgrading equipment due to low cement prices. However, it has achieved a 20% decrease in greenhouse gas emissions per tonne of cement since 2014, aided by the use of alternative fuels and investment in energy efficiency. The Korean government now requires that greenhouse gases be cut by 12% by 2023 from 2018 levels by 53% by 2050.
The industry currently uses post-consumer plastics as fuels instead of fossil fuels and incorporates byproducts from other industries, like sludge. However, some environmental groups have labelled cement made from industrial byproducts as ‘garbage cement’ claiming it contains hexavalent chromium levels more than four times the EU’s allowable limits. The use of plastics as alternative fuel has also sparked complaints from local waste collection and incineration companies, who argue that cement companies are taking away their business.
Professor Kim Jin-man from Kongju National University said "We also need to focus on developing high-performance clinker, advanced chemical admixtures for concrete, and accelerators that shorten concrete curing times."
Ukraine: The Ukrainian cement industry, represented by the Ukrcement Association, is urging the government to revise the recent changes in electricity import regulations under martial law. Following the increase from a 30% EU electricity import requirement to 80%, mandated by Resolution No. 661 on 1 June 2024, the industry faces heightened costs and technical challenges due to limited border crossing capacities.
The association said "Given that cement production is energy-intensive and it is the main component for military and civilian construction, we ask the Ukrainian government to return to the previous 30/70 proportion. This proportion will ensure reliable energy supply to industrial enterprises of Ukraine, which will help maintain the current pace of economic recovery in Ukraine in the face of military aggression by the Russian Federation."
The industry's proposals to mitigate the situation include reducing the minimum import share to 50%, enhancing interstate crossing capacities and revising the distribution of mandatory imported electricity purchases.
NovaAlgoma to launch new cement carrier 11 July 2024
Italy: NovaAlgoma, a joint venture between the Italian-Swiss Nova Marine Carriers and Canada's Algoma Central Corporation, has announced the construction of the ‘world’s largest and greenest’ cement carrier, weighing 38,000t. This vessel will be built by Xinle Shipbuilding in China and delivered by the end of 2026. It will reportedly be the first to use both traditional fuel and methanol and can connect to electrical grids in ports to eliminate emissions, according to local news reports. Additionally, it will feature a waste heat recovery system that converts exhaust gases into 250kW of electrical energy.
Vincenzo Romeo, CEO of Nova Marine, said "This new construction, which meets the forecasts for the development of our fleet and the growth of cement market demand in the coming years, is intended to consolidate our positioning among the global leaders in cement transportation.”